Impact Report of the 2022-2023 Academic Year
Last February, the Reina Sofía School of Music presented to the Board of Trustees the report of activities for the 2022-2023 academic year, including the impact data of our main lines of action: training musicians, bringing music closer to society and developing a sustainable model.
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During the last academic year, 179 students were trained at the School and 220 in other educational programmes such as the Santander Encounter and the Summer Camp, with a total of 399 direct beneficiaries.
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The employability rate of our alumni is 92%, the remaining 8% continue with their training.
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In order to promote equal opportunities, the School allocated 6.4 million euros in scholarships to students, 16% of whom come from countries with a Human Development Index (HDI) of less than 0.8.
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59,000 spectators enjoyed the 330 concerts organised by the School and 8,125 schoolchildren and vulnerable groups enjoyed these same concerts and other activities.
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Finally, as we move towards a more sustainable model, in the environmental aspect, we have reduced our carbon footprint by 48% compared to the previous year, and in the economic aspect, we have involved 166 patrons and collaborating entities in our project.
Impact Report Methodology
With the aim of measuring the social impact of the activity of the Reina Sofía School of Music, from the 2021-2022 academic year, we have begun to measure different indicators that allow us to assess our work and the degree of fulfilment of our objectives and that, in addition, help us in decision-making and the orientation of our activities.
The Impact Report is the result of the implementation of a methodology developed by the Reina Sofía School of Music in collaboration with Management Solutions, in accordance with the principles of the Theory of Change and materiality analysis, and developed together with its main stakeholders, in order to ensure maximum alignment between its strategy and objectives to contribute, to the extent of its possibilities, to the transformation of the reality of the current situation of the music sector.
Quantitative and qualitative metrics have been identified, adapted to the characteristics of each of the objectives to be measured. These impact objectives are grouped into three blocks: training musicians, bringing music closer to society and developing a sustainable model. Finally, the economic quantification of the social impact and the social rate of return on investment (SROI) is achieved, based on the Impact-Weighted Accounts Initiative (IWAI) methodology, promoted by Harvard University.
This report has been carried out for the 2021-2022 academic year and has served to lay the methodological foundations to be applied in successive measurements.
